BELLINGHAM, WA (November 30, 2023) – WECU has launched a new suite of savings products designed to help its members reach financial security.

These new savings options come at a time when household finances are being squeezed in the face of higher inflation and economic uncertainty. The personal saving rate (a percentage of disposable personal income (DPI) calculated as the ratio of personal saving to DPI) was 3.80% in October,* well below a decadelong average of roughly 8.9%,** according to data from the U.S. Bureau of Economic Analysis.

WECU’s new options include a savings account with 6.00% APY for the first $2,500,1 a savings certificate allowing unlimited deposits over its 6 or 12-month term,2 and a high-yield savings account with a 4.50% APY on balances of $50,000 and above.3 This is 10 times higher than the national average.§

These rates for the high-yield savings account are contingent on members first having WECU’s Spend Plus Checking account that pays 8.00% APY on balances up to $5,000.4

“These accounts are designed to all work together in a savings journey,” said Jerimy Saldivar, Director of Member Experience at WECU. “First, maximize your return with the 8.00% APY4 on the Spend Plus Checking Account, then maximize the first $2,500 with the Stash Savings Account as your emergency fund. To build savings further, use the Stash Certificates to reach short-term goals- like taking a trip or getting a new appliance.”

The high-yield account is designed to be a piece of our members’ long-term savings strategy like retirement, Saldivar says.

According to a new NerdWallet survey, less than half (45%) of Americans would be able to cover a $1,000 emergency expense without turning to a credit card or loan.§§ The same poll found that 60% of Americans don’t have a retirement-specific account. These are the challenges WECU is trying to solve.

“We wanted to build a formula for our members to reach financial security,” Saldivar said. “Once you check one box, you move on to the next, and soon enough, you’re in a better financial position than ever before.”

These products are now available on

About WECU

WECU is a credit union based in Bellingham, Washington. Founded in 1936 as Bellingham Teachers Credit Union, WECU serves individuals and businesses throughout Washington. With over $2.5 billion in assets, WECU serves approximately 152,000 members and employs more than 400 people.

1APY = Annual percentage yield. 6.00% APY on balances up to $2,500; balances over $2,500 will earn .01% APY on remaining balance. One Stash Savings account per member. Minimum opening deposit of $1 is required. Rates are subject to change. Fees could reduce earnings. APY is accurate as of October 18, 2023.

2Add-On Savings Certificates are Stash Certificates. Add-On savings certificates allow more than one deposit to a savings certificate. There are no limits to the amount of deposits during the certificate term. Early withdrawal penalties will apply to any withdrawals.

3APY = Annual Percentage Yield. 0.76% APY on balances $0-$50,000, 4.50% APY on balances over $50,000. See our Rate and Fee Schedule for more information on High Yield Plus Savings accounts and Spend Plus Checking account fees, terms, and conditions. A Spend Plus Checking account is required to receive the highest rate. Must be tax reporting owner on both accounts. Minimum opening deposit of $1 is required. Rates are subject to change. Fees could reduce earnings. APY is accurate as of October 18, 2023.

4APY = Annual percentage yield. 8.00% APY on balances up to $5,000; .05% base APY plus additional 7.95% APY monthly for qualifying accounts with 20 Debit Card Transactions, enrollment in eStatements, and direct deposit greater than $100 per month. Non-qualifying accounts and balances over $5,000 will earn .05% APY. Minimum opening deposit of $1 is required. Fees could reduce earnings. APY is accurate as of 09/12/2023.

*Bureau of Economic Analysis, “Personal Saving Rate.” November 30, 2023. Bureau of Economic Analysis. Accessed November 30, 2023.

** U.S. Bureau of Economic Analysis, Personal Saving Rate [PSAVERT], retrieved from FRED, Federal Reserve Bank of St. Louis;, November 14, 2023.

§The national average savings account interest rate is reported by the FDIC (as of September 19, 2023) as the average annual percentage yield (APY) for savings accounts.

§§Renter, Elizabeth. “Most Americans Save, but Many Can’t Cover a $1,000 Emergency: NerdWallet 2023 Consumer Savings Report.NerdWallet, May 9th, 2023. Accessed November 30, 2023.